Kraken, the cryptocurrency exchange, just launched Ethereum restaking through a new protocol called EigenLayer. This option allows users to boost the security of decentralized applications (dApps) while earning extra rewards on their staked ETH.

Now, users can easily participate in EigenLayer restaking via Kraken. When you stake your ETH, it helps secure Ethereum and also supports various dApps on the network, known as Actively Validated Services (AVSs). By doing this, you can earn additional rewards on top of your regular Ethereum staking returns.

Kraken makes the ETH restaking process straightforward. You can restake the ETH you already have on the platform. Plus, Kraken’s subsidiary, Staked, acts as the validator for ETH restaked through Kraken. Staked is a key player in EigenLayer and provides services to institutional clients.

During this process, rewards come in the form of AVS tokens. These tokens represent the dApps that your ETH helps secure. They can include tokens from sidechains, data availability layers, oracles, bridges, and more. For example, you might receive tokens like EIGEN, depending on how AVS distributes them. Just keep in mind that EigenLayer requires at least seven days for escrow and unbonding to unstake assets from Ethereum. So, accessing your ETH might take longer than usual.

To start taking advantage of EigenLayer restaking with Kraken, you need a verified Kraken Pro account and some ETH available in either your spot or staked balance.

Kraken also offers cryptocurrency trading against fiat currencies and provides services for cryptocurrency derivatives and futures trading. According to CoinMarketCap, Kraken ranks as the seventh-largest cryptocurrency exchange in the world, with an average daily trading volume of about $1 billion.

Recently, Kraken completed the acquisition of Coin Meester B.V., one of the oldest registered cryptocurrency brokers in the Netherlands. This move is part of Kraken's strategy to expand its presence in the region and enhance its operations as a registered Virtual Asset Service Provider (VASP) in both France and Poland.